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Gold/Mining/Energy : Goldminco Consolidated Mining Corp. GMC (was GMO)
GMO 0.01210.0%Jan 21 4:00 PM EST
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To: RonS who wrote (380)4/23/1997 9:45:00 AM
From: floj   of 588
 
To RonS:
VSE I can go back to 1987 and the OBV back to 1990.
Vancouver bottomed out in 1991 after a long decline from 2000 level back in 1987. Since 1992 the VSE has been in a stong rising field trend confirmed by the OBV (On Balance Volume). Meaning each top is confirmed by upside OBV breakouts and each bottom is confirmed by higher OBV bottoms. The OBV has been increasing since 1992, this could be what the Northern Miner was referring to. As for value, I tracked it many years ago for a little while, and haven't bothered since, therefore can't comment on it.
The field trend so far is as follows:
The first wave starting in 1992 was completed in 1994 just below the 1200 level, the second wave completed in 1995 at 700 level, the third wave was completed in 1996 just below 1500. The VSE is at 1035 as of yesterday's close. Where it will bottom out I do not know, too early to tell, also too early to tell if we will have a fifth wave.

For the second part of your question its all in the OBV. There's no way I can get into here. I've tried to learn to use the OBV to help identify and confirm field trends, bottoms, patterns of accumulation and distribution, supply areas. (And still learning).
Basically for accumulation the price should be trading within a tight range while the OBV is making upside breakouts.
Hope I've answered your questions.

Regards
Flo J
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